Shares of MasTec Inc. (MTZ) surged 6.52% in Thursday's trading session after the infrastructure construction company reported better-than-expected first-quarter results and raised its full-year 2025 guidance.

MasTec posted adjusted earnings of $0.51 per share for Q1 2025, significantly surpassing the analyst consensus estimate of $0.34 per share. This marked a substantial improvement from the loss of $0.17 per share reported in the same period last year. Revenue for the quarter came in at $2.85 billion, exceeding analysts' expectations of $2.71 billion and representing a 6% increase from $2.69 billion in Q1 2024.

The company's strong performance was driven by growth across multiple segments. Jose Mas, MasTec's Chief Executive Officer, commented, "We are pleased to report another strong quarter of financial performance, with key metrics showing strong year-over-year growth and also exceeding guidance. While mid-single digit growth in revenue and Adjusted EBITDA were both solid and EPS easily exceeded guidance, we are particularly encouraged by ongoing backlog development to record consolidated levels, including a more than doubling of backlog for the Pipeline Infrastructure segment since year-end."

Notably, MasTec's 18-month backlog as of March 31, 2025, stood at $15.9 billion, representing a 24% year-over-year increase and an 11% rise compared to the previous quarter. This strong backlog growth suggests a positive outlook for future business.

In light of the robust Q1 results, MasTec raised its financial guidance for the full year 2025. The company now expects adjusted diluted earnings per share in the range of $5.90 to $6.25, up from its previous guidance of $5.35 to $5.84. Revenue for 2025 is projected to reach $13.65 billion, compared to the earlier forecast of $13.45 billion.

Paul DiMarco, MasTec's Chief Financial Officer, highlighted the company's solid cash flow generation and stable balance sheet, stating, "In addition to executing on growth during the first quarter, we generated another quarter of solid cash flow and ended the period with net debt leverage of 1.9x, steady versus the year end level."

The market's enthusiastic response to MasTec's earnings report reflects investor confidence in the company's ability to capitalize on infrastructure spending trends and deliver strong financial results. With its raised guidance and robust backlog, MasTec appears well-positioned for continued growth in 2025.